We hold eight Dec 12.5-15 call spreads for an average CREDIT of 0.15, having legged the position on at great prices. Since SLW is approaching a potentially stubborn Hidden Pivot resistance at 15.85, let’s ty to adjust if and when the stock gets there. Accordingly, I’ll recommend closing four of the spreads for 1.90, good through Wednesday. I’ve included a snapshot of my option calculator that shows how I arrived at a fair value for the spread.
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